The joint impact of labour policies and the “Great Recession” on unemployment in Europe

Silvia Dal Bianco, Randolph Bruno () and Marcello Signorelli

Economic Systems, 2015, vol. 39, issue 1, 3-26

Abstract: The paper consists of an empirical analysis of the separate as well as joint impacts on total and youth unemployment of indicators of labour market policies on the one hand, and the financial crisis associated with the “Great Recession” on the other. In particular, we investigate labour market data in the past two decades for the Enlarged Europe and adopt a variable accounting for the idiosyncratic severity shock of the crisis. This time-varying and country-specific crisis variable enables us to test empirically and in a novel way the joint impact of labour market policies and the economic crisis on labour market dynamics even when accounting for common macro shocks.

Keywords: Unemployment; Youth unemployment; Crisis; Labour market policies (search for similar items in EconPapers)
JEL-codes: C23 J65 O52 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecosys:v:39:y:2015:i:1:p:3-26

DOI: 10.1016/j.ecosys.2014.06.002

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